Why tips on managing money are not enough

It’s so easy to feel despondent about money, and to constantly be searching for tips on managing money. Over the past 15 years, millions of families in the UK have become steadily worse off, as the effect of pay freezes and rising costs hit. Many families are struggling to manage on a day-to-day basis, have mounting debts and are desperate for tips on managing money better. But it is about so much more than managing money.

Why tips on managing money is only the start

Although managing money more effectively is part of the solution, there is so much more that you can do to help yourself out of a difficult financial situation. Creating a picture of the life you want, and taking small, manageable steps towards that ideal life is a really motivating and exciting way for you to WANT to manage your money better. Not because you have to, but because you can see the rewards that you will gain for doing so. That makes the journey towards a better financial life so much easier.

What about you?

Are you just about managing your money, but feel that you are missing out on the fun things in life. Are you feeling that you work hard for a living, and should be able to enjoy a few treats, but are struggling to afford this.

Or perhaps the future is causing you concern, with further education for your children becoming a reality, home improvements required, or the rising retirement age making you feel like you will be stuck working forever!

If any of this sounds familiar, then you are not alone.

But what can you do about it? Where do you start?

Start right here!

It’s about getting organised, finding the best tips on managing money, working out what is most important to you and your family, then starting to plan how you can achieve these priorities.

I have developed a free plan, to give you a simple process to follow. Your Money Sorted plan will help you to:

feel great about money

be able to relax, knowing that you are financially secure

have more money to spend on the things you love.

If money has been causing you problems, then you won’t be able to solve it overnight. However, by following my simple step-by-step plan you WILL be able to feel great about money. But you need to be willing to make the effort; to make some changes; and willing to get started!

Are you fed up feeling crap about money AND are ready to do something about it?

Let’s get started then.

All you need to do is complete each step of the plan, before moving onto the next one. You will not achieve all the goals you set in the plan overnight. It might take you a month, or a year, or 5 years – that doesn’t matter. What does matter, is that you start planning today!

The outline of the plan is below, but to really benefit from the tips on managing money, and to get support and guidance from the free materials, please sign up below.

Your Money Sorted Plan

Step 1 – Find Support

You cannot do this alone. It’s vital that you are supported along the way.

Come and meet other like-minded women in my fantastic Your Money Sorted Facebook group. You will be inspired, motivated and supported by myself and all the other women in there.

Also enlist the help of your family and friends, explaining to them that you are making some changes in your life, and that you would like their support. It would be even better if you can encourage some of your friends and family to join you in making changes to their finances too. Why not share this post with them?

Step 2 – Know the Outcome

What do you want? How do you want to feel? What would make you happy? What’s your hopes? Your Dreams?

It’s often easier to think about what we don’t want. “I don’t want to be skint.” “I don’t want to be worried about money.” “I don’t want to have to work till my late 60s”

Unfortunately, thinking about what we don’t want keeps us stuck. To move forward we need to think about what we DO want.

That’s why spending some time thinking about your hopes and dreams is vital in this process. You can get started on this right away in the plan, by creating a picture of your ideal future.

Step 3 – Be prepared

Often, when people try to start managing their money better,, they find it too difficult, because unexpected expenses crop up and blow the budget. That’s why it is vital to start the process of sorting your finances, by creating a small emergency fund. If the unexpected happens, you have money in reserve to deal with it, and it won’t stop you from following your plan.

Step 4 – Pay off bad debt

Debt is not all bad. Understanding the difference between good debt and bad debt is vital. Getting rid of bad debt is essential if you are to live a content, secure and happy financial life. Tips on managing money will help you in a small way. However, learning about the best ways to pay off bad debts, and creating a plan to do this, will help you enormously. This is easy with the help of my free debt course, which is part of the Your Money Sorted Plan.

Step 5 – Protect your security

Having savings of 3-6 months of essential expenses is essential to create a sense of security and stability. How much easier would it be to cope with a cancer diagnosis, redundancy, or other major event, knowing that you could still afford to live? The peace of mind a safety net brings to you, and your family frees you, and allows you to live a happier and more content life. As part of the plan, you can download a free worksheet to help you work out how much you would need to save, and create a plan to build this fund.

Step 6 – Plan for the future

Thinking ahead, and planning for large expenses, helps you to have a stress-free financial life, both now and in the future. Taking some time to consider what your major financial milestones might be, is a helpful process and the plan has loads of information to help you to do that quickly and easily.

Step 7 – Invest in your future

I think that future planning is essential, especially with the retirement age increasing. When I started teaching the normal pension age (NPA) was 60, for those joining the profession after 2007 it was 65. Now, NPA is linked to the state pension, currently 68, but likely to rise again over the years. If you don’t want to still be working in your late 60s then it is vital that you consider your retirement plans as early in your life as possible. Your Money Sorted Plan has loads of information to help you to work out your current position.

Step 8 – What matters to you?

This step really runs concurrently with all the other steps. You don’t need to wait until you have achieved all the other steps to achieve this one! It’s a great idea to have thought about every other stage in the plan, and to have started to make some plans to achieve them. However, the journey to get them all ticked off could be a good few years, and you have a lot of living to do in the meantime. Part of the plan is working out how you can achieve your long term goals, without sacrificing your enjoyment of life just now.

What would make you happiest?

Jetting off to the sun twice a year? Having money to help your children through further education? A new car every 3 years? Putting on an extension? Having a cleaner?

It doesn’t matter what it is, but it does matter how you are going to pay for it. This step is about working out exactly what matters most to you, and setting up a plan for how you will have it!

Life is short and it’s there to be enjoyed! Getting your money sorted is not about being miserable, it’s not about penny pinching and it’s not about saving every penny. It is about spending your money on the things that matter to YOU and about having more money to spend on the stuff you love.

Signing up to the free Your Money Sorted Plan will help you to get started on this!

And that is it!

Following the plan will help you to feel calm, confident and in control of your money. This frees you from negativity and allows you to be happier, healthier and wealthier.

Feeling slightly overwhelmed by the plan is normal, especially if you are in debt, and have very little in savings. It may seem that reaching step 8 of the plan will never happen for you. However, I promise you that if you are willing to put in the effort, then it is achievable.

Let’s get cracking and get your money sorted. Then you can get on with enjoying the important things in life.

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About Eileen Adamson

I am Eileen Adamson, a Your Money, Sorted coach, working online with UK based women, helping you to develop a better relationship with money. I can help you to understand your money mindset and implement changes which will allow you to feel calm, positive and confident as you become happier, healthier and wealthier.

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How to manage your money better These freebies will help you learn how to manage your money better, and be happier, healthier and wealthier. Please click on the relevant button to download. I promise not to bombard you with rubbish emails, or share your details with anyone else.

Why not grab a coffee and read these great blog posts about money mindset? My Finance for Freedom clients are LOVING learning about their money mindset, and are surprised at what a difference it can make to the money in their pocket.

"I couldn’t believe how much I got from the coaching sessions. Eileen was focused and inspiring, keeping me on the right track as we moved from personal finances to issues affecting our business. The whole experience has left me feeling motivated and ready to move things along to the next stage. The after-care service is amazing too. Eileen’s emails over the last few months show she really cares about her clients. Many thanks Eileen."

Why not grab a coffee and read these great blog posts about money mindset? My Finance for Freedom clients are LOVING learning about their money mindset, and are surprised at what a difference it can make to the money in their pocket.